Julius Baer’s pre-tax profits fell 27 percent in H1 2022 to CHF 513 million.

Additionally, as income taxes fell by 38 percent to CHF 63 million, IFRS net profit decreased by 26 percent to CHF 450 million.

Operating income was down 6.0 percent to CHF 1.97 billion at the end of June 2022.

This benefitted from higher net interest income, increased advisory and management fees, and lower commission expenses.

However, net commission and fee income fel...